Autumn 2000 (8.3)
exploit the new opportunities in the Caspian region, the Norwegian
state oil company Statoil has decided to establish Baku as the
hub for its regional activities, elevating the Statoil Azerbaijan
office to be a Statoil Caspian Region office with full responsibility
for all of the company's activities in the Caspian region. Statoil
intends to open an office in Kazakhstan to further strengthen
the company's presence in the Caspian region.
Since the Caspian is an important core area for Statoil, the
company has also begun discussions with SOCAR hoping to obtain
an operatorship in Azerbaijan. Statoil is eager to pursue a leading
role in the development of the Azerbaijani gas industry.
Statoil's support for the Main Export Pipeline-and willingness
to enter the sponsor group for the oil export pipeline - is further
evidence of Statoil's commitment to the oil and gas developments
in Azerbaijan. The company is working with BP, SOCAR and the
Shah Daniz Partners on preparation for gas export to Georgia
and Turkey. Statoil is confident that it will be possible to
realize a fast-track development of the Shah Daniz project. Statoil's
recent alliance with the Turkish Koc group is a result of Statoil's
belief that Azerbaijani gas will reach the Turkish markets. Statoil
and Koc will jointly seek to secure a role for Shah Daniz gas
in Turkey. To further strengthen the marketing efforts, Statoil
has opened a gas marketing office in Ankara, Turkey.
Statoil arrived in Baku in 1992 shortly after the collapse of
the Soviet Union. They were among the first international oil
companies to express their interest in Azerbaijan. Its participation
in regional oil and gas projects includes an 8.56 percent stake
in AIOC's project in the Caspian Sea, a 25.5 percent in the Shah
Daniz gas field consortium and a 15 percent stake in the Alov
prospect all projects operated by BP . Work on these fields could
bring Statoil's investment in the Caspian Sea region to an annual
Since January 1999, Statoil's office has been located in the
Landmark building. Presently, the company has 45 employees based
in Baku, of whom 70 percent are Azerbaijanis. This number is
expected to increase as a result of the new responsibilities.
(8.3) Autumn 2000.
© Azerbaijan International 2000. All rights reserved.
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